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Property profile & analytics
FOR LEASE
Industrial properties
34525 Melinz Pkwy Eastlake, OH 44095
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-0148627
For Lease
1 / 3
Contact for pricing
34525 Melinz Pkwy, Eastlake, OH 44095
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1977
Total area
63,050 SF
Lot
7 ac (304,920 SF)
Zoning code
G-IND
APN
34-A-003-0-00-047-0
UPID
US66-0148627
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.74M
Comparable Approach
Comparable
$4.43M
Blend (final)
Blend
$3.48M
Owner & transaction history
Rpel Melinz Pkwy LLC · 1 yrs held
Rpel Melinz Pkwy LLC
since 2025
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
G-IND · Eastlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.3M
+78.0%
Commercial (general)
$5.1M
+70.6%
Retail stores
$4.9M
+66.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Eastlake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eastlake submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,045,000
6.5%
$3,735,000
7%
$3,465,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,970,000
Current use
AUTO REPAIR, GARAGE
$5,285,000
Change: +78% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,065,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$4,940,000
Change: +66% · Conversion: Moderate
MEDICAL BUILDING
$4,435,000
Change: +49% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,495,000
Change: +18% · Conversion: Easy
OFFICE BUILDING
$2,970,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$3.48M
Range $3.13M – $3.83M · ±10% · vs last sale $3.49M (Oct 21 2024)
Last sale anchor
$3.49M
Oct 21 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$55 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$92,349
Tax year 2023
Assessed value
$1,099,840
Assessed 2023
Previous assessed
$1,099,840
+0.0% YoY
Effective rate
8.40%
On assessed value
Assessed land
$232,120
Assessed improvement
$867,720
Land market value
$663,200
Improvement market value
$2,479,190
Total market value
$3,142,390
Applied tax rate
34.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1977
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
63,050 SF
Lot
7 ac (304,920 SF)
Zoning code
G-IND
APN
34-A-003-0-00-047-0
UPID
US66-0148627
Jurisdiction
LAKE
Zoning & alternative use
G-IND · Eastlake, OHZoning G-IND · permitted uses
G-IND · Eastlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.4M
WAREHOUSE, STORAGE
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.0M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
7 ac
Current owner
From public records · entity-resolved
Rpel Melinz Pkwy LLC
Entity
Mailing address
34525 MELINZ PKWY, EASTLAKE, OH 44095-4037
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2025
$34,940
Rpel Melinz Pkwy LLC
Melinz Parkway Holdings LLC
Deed
—
Jan 19, 2018
—
Melinz Parkway Holdings LLC
—
Deed
related
$3,250,000 · Northwest Bk
Oct 31, 2017
—
Melinz Parkway Holdings LLC
—
Deed
related
$3,129,500 · Northwest Bk
Oct 27, 2017
—
Melinz Parkway Holdings LLC
Century Center Properties LLC
Grant Deed
—
May 1, 2006
$4,000,000
Century Center Properties LLC
Batac Corp
Warranty Deed
$4,000,000 · Fifth Third Bank
—
—
Century Center Properties LLC
—
Deed Of Trust
related
$3,700,000 · General Electric Capital Corp
—
—
Melinz Parkway Holdings LLC
—
Loan Modification
related
$3,250,000 · Northwest Bk
—
—
Melinz Parkway Holdings LLC
—
Deed Of Trust
related
$3,129,500 · Northwest Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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